Inflation

Inflation

Assessment

Flashcard

Social Studies

10th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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7 questions

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1.

FLASHCARD QUESTION

Front

What is Inflation?

Back

is rising general level of prices and it reduces the “purchasing power” of money.

2.

FLASHCARD QUESTION

Front

Wage measured by dollars rather than purchasing power.

Back

Nominal Wage

3.

FLASHCARD QUESTION

Front

Wage adjusted for inflation.

Back

Real Wage

4.

FLASHCARD QUESTION

Front

The percent change in prices from year to year.

Back

Inflation Rate

5.

FLASHCARD QUESTION

Front

Index numbers assigned to each year that show how prices have changed relative to a specific base year.

Back

Price Indices

6.

FLASHCARD QUESTION

Front

is GDP measured in current prices. It does not account for inflation from year to year.

Back

Nominal GDP

7.

FLASHCARD QUESTION

Front

is GDP expressed in constant, or unchanging, dollars.

Back

Real GDP

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